Gazprom and CNPC to sign gas supply contract in May
Published by Rosalie Starling,
Editor - Hydrocarbon Engineering
World Pipelines,
The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee, and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC).
During the meeting the parties addressed the state of the contract for pipeline gas supply from Russia to China via the eastern route. Preparations are well underway and nearing completion. Gazprom and CNPC are planning to sign the contract in May as was initially planned.
Alexey Miller and Zhou Jiping stressed that the launch of natural gas supply via the eastern route was strategically important for both countries. It means the access to a new major developing market of gas supply for Russia, and China will get a strong impetus to economic development and environmental improvement.
In 2009 Gazprom and CNPC drew up a framework agreement on the major terms and conditions of natural gas supply from Russia to China. The agreement stipulates annual exports of up to 68 billion m3 of gas to the Chinese market. In 2010, the extended major terms of natural gas supply from Russia to China were signed. In September 2013, Gazprom and CNPC drew up the agreement on the major terms and conditions of pipeline gas supply from Russia to China via the eastern route.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldpipelines.com/business-news/01052014/gazprom_and_cnpc_to_sign_gas_supply_contract_in_may_266/
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